Moscow and Sochi saw a decline in real estate demand in the secondary market against the backdrop of growth in other parts of Russia. This was demonstrated by a study on the Avito Real Estate platform acquired by socialbites.ca.
Demand in the secondary housing market for Avito Nedvizhimost increased during the year in 31 of the 33 cities included in the survey. Kazan (+70%), Yekaterinburg (+64%), Voronezh (+56%), Nizhny Novgorod (+49%) and Samara (+46%) have the most impressive dynamics. Only Moscow (-14%) and Sochi (-1%) fell,” he said.
At the same time, apartment prices in the secondary housing market increased in 27 of 33 cities. The most significant growth was recorded in Chelyabinsk (29%), Kirov (+23%), Volgograd (+17%) and Irkutsk. (+15%).
Prices for such apartments in Moscow increased by 13%.
Kaliningrad (-13%), Sevastopol (-8%), Sochi (-7%), St. Petersburg (-4%), Krasnodar (-3%) and Kazan (-2%) prices fell.
The average cost of an apartment on the secondary market in Moscow in June 2023 is 13.7 million rubles, in Sochi – 10 million rubles, St. Petersburg – it was 8.3 million rubles.
“Among the 33 cities included in the Avito Real Estate survey, secondary housing is the cheapest in Izhevsk (3.4 million rubles), Ulyanovsk (3.4 million rubles) and Kirov (3.5 million rubles),” the representatives of the platform said.
Previously reportedThat the Russians began to sell apartments in new buildings.